Explain which material variance is calculated first

Assignment Help Managerial Accounting
Reference no: EM132537214

Question 1: The following standards for variable manufacturing overhead have been established for a company that makes only one product:

Standard hours per unit of output .............. 5.6 hours

Standard variable overhead rate ................ $19.15 per hour

The following data pertain to operations for the last month:

Actual hours ................................................ 5,100 hours

Actual total variable overhead cost ............. $99,195

Actual output ............................................... 1,100 units

Calculate the Variable MOH Spending and Efficiency Variance. Explain your answer

Question 2: Explain which Material Variance (Quantity or Price) is calculated first and why is there a specific order in which these calculations are made. Discuss the responsibility of Production Manager and Purchasing Manager in relation to the calculation of Material Variances.

Reference no: EM132537214

Questions Cloud

Explain in simple terms how a cell becomes cancerous : Explain in simple terms how a cell becomes cancerous with special reference to role of viruses.
Is kim action ethical : Is Kim's action ethical? Briefly explain? Who are the stakeholders in this situation? Frank Corporation evaluates managers based on return on investment (ROI).
Capital budgeting decision methods : Compare and contrast the internal rate of return approach to the net present value approach. Which is better? Support your answer with well-reasoned arguments
Biosynthesis of dna viruses with rna viruses : 1. Compared and contrast the biosynthesis of DNA viruses with RNA viruses.
Explain which material variance is calculated first : Explain which Material Variance (Quantity or Price) is calculated first and why is there a specific order in which these calculations are made.
Designing and implementing quality program systems : You are involved in a consulting committee for designing and implementing quality program systems for service businesses.
Examined numerous topics around management and leadership : Throughout the term you have explored an examined numerous topics around management and leadership.
Evaluate business-level strategy of either starbucks : Evaluate the business-level strategy of either Starbucks or Lockheed Martin to determine whether you believe the strategy is appropriate to offset forces
Is brad behaving ethically in how is approaching : What suggestions do you have for Brad in arriving at a satisfactory solution to his dilemma? Is Brad behaving ethically in how he is approaching

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd